Posted On: 08/28/2015 9:30:46 AM
Post# of 318
CENTENNIAL, CO / ACCESSWIRE / August 27, 2015 / AlumiFuel Power Corporation (PINKSHEETS: AFPW) (AlumiFuel or the Company), and ByteSentinel Partners, LLC, a privately-held development-stage Texas-based Limited Liability Corporation (ByteSentinel), announced their entry into a non-binding Letter of Intent (LOI) and are moving toward signing a definitive agreement within the next 90 days. Under the terms of the LOI, AlumiFuel will acquire 100% of the outstanding LLC interests in ByteSentinel in exchange for AlumiFuel common stock.
ByteSentinel is developing innovative cyber security solutions that make the world safe for businesses and consumers to exchange digital information. Their solutions are focused on delivering the latest, cutting edge and seamless integration of user and application authentication, and encryption to both mobile and non-mobile environments.
Closing of this transaction is subject to customary conditions including further due diligence by the parties, negotiation and execution of a definitive agreement and related documents, and satisfaction of any necessary, board of director, stockholder and LLC interest holder approvals.
ByteSentinel is developing innovative cyber security solutions that make the world safe for businesses and consumers to exchange digital information. Their solutions are focused on delivering the latest, cutting edge and seamless integration of user and application authentication, and encryption to both mobile and non-mobile environments.
Closing of this transaction is subject to customary conditions including further due diligence by the parties, negotiation and execution of a definitive agreement and related documents, and satisfaction of any necessary, board of director, stockholder and LLC interest holder approvals.
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